I would like to thank Marc for visiting my blog and posting his comment after his read on my posts on the importance of having Mortgage Insurance to protect a Mortgage Bank Loan. If you are interested in reading what I have written on this particular topic, these are the links:
And this is the comment by Marc:
“Hi, it seems from your article that one can purchase a mortgage insurance with a sum assured higher than the loan amount; coverage longer than the loan tenure.
Please elaborate how this insurance can help one in time of need after the loan has been paid up completely. Doesn’t the insurance lapsed automatically once the loan had been paid up?”
This Is My Reply: